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Sept Consumer Price Index (CPI) announced at 2.4%.

17th October 2018

Sept Consumer Price Index (CPI) announced at 2.4%.

The September Consumer Price Index (CPI) has been announced at 2.4%.

The CPI is important to business rates as it affects the Multiplier, on which Rates’ Payments are calculated each year. This figure is compounded annually by the increase or decrease, in line with inflation.

The September figure is of no great surprise and for those who work with business rates it translates as a 2019/20 UBR of 49.2p (England & Scotland) and 52.6p (Wales) – with a caveat that the Government can, if it wishes, set different figures, but this is rare.

Assuming the 2.4% figure for the rest of the 2017 List:

England and Greater London areas:2019 – Small, Medium and Large Business Rate: UBR of 0.492
2020 – Small, Medium and Large Business Rate: UBR of 0.504

Scotland is adopting a 5-year revaluation and has a UBR of 0.516 for the 2021 year (again, assuming a 2.4% inflation rate).

For Wales it is the following figures:

2019 – Small and Large Business Rate: UBR of 0.526
2020 – Small and Large Business Rate: UBR of 0.539

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Dunlop Heywood

Dunlop Heywood is a commercial property consultancy based in London, Manchester, Liverpool, Leeds, Newcastle Upon Tyne and Belfast. The Dunlop Heywood team work with leading organisations across the private and public sectors delivering services tailored to client’s specific requirements.